FOR THE YEAR ENDED 31 MARCH 2025
PENINSULA CARE HOMES LIMITED
COMPANY INFORMATION
PENINSULA CARE HOMES LIMITED
CONTENTS
PENINSULA CARE HOMES LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The Company’s principal activities are the operation of 5 elderly care homes across Devon, accommodating up to 200 residents, providing exceptional residential, nursing and dementia care. The Company provides a supportive environment for all residents and staff, reinforced by the Company’s CARE values – Committed, Ambition, Responsible, Embracing – prioritising individual wellbeing, comfort and happiness throughout the homes.
Income for the year of £10,705,749 was consistent with the prior year. The Company’s long-standing reputation for excellence continues to attract both residents and skilled workers.
Average occupancy for the year was 84.5%, consistent with the Southwest regional average as per Knight Frank’s 2024 Benchmarking Report. The current year has, to date of reporting, seen occupancy levels increase to 91%, highlighting strong demand and presenting a positive outlook for the year.
The Directors continue to advocate outstanding levels of care whilst optimising operational efficiency. They remain committed to invest in staff development and improving systems, alongside investing in the environments and facilities offered to provide a safe and enjoyable provision for all.
Income for the year of £10,705,749 was consistent with the prior year. The Company’s long-standing reputation for excellence continues to attract both residents and skilled workers.
Average occupancy for the year was 84.5%, consistent with the Southwest regional average as per Knight Frank’s 2024 Benchmarking Report. The current year has, to date of reporting, seen occupancy levels increase to 91%, highlighting strong demand and presenting a positive outlook for the year.
The Directors continue to advocate outstanding levels of care whilst optimising operational efficiency. They remain committed to invest in staff development and improving systems, alongside investing in the environments and facilities offered to provide a safe and enjoyable provision for all.
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PENINSULA CARE HOMES LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Reputation & Regularity Risks
At the end of the financial year the Company retains 1 home rated ‘Outstanding’ and 4 homes rated as ‘Good’ overall by regulator CQC.
Significant investment was made during the year in launching the Radar Healthcare compliance system across all homes. This innovative software increases focus on delivering exceptional care, enhanced efficiency, accountability and transparency. Key benefits include real-time monitoring and pro-active risk management, supporting the Company’s strategic objective in optimising operational efficiency.
During the last 4 months of the financial year safeguarding concerns were identified in one of the homes. Whilst the Company retained existing residents in the home, it took the decision to temporarily close this home to new admissions whilst the concerns were effectively addressed, in partnership with the CQC.
Feedback from residents and families is an important KPI and this information is used to support the Company’s continuous improvement practices. The Company is pleased to report the current average group score on carehome.co.uk is 9.8/10 from verified reviews.
Staffing
Recruitment and retention of Health and Social Care staff remains a challenge at both a local and national level. The Company continues to monitor the market to ensure the pay and benefits package is competitive for attracting and retaining staff.
To support improved retention and staff development, the Company undertook a comprehensive review of training requirements to clearly define mandatory requirements and opportunities for personal development. In conjunction with this, the booking system was improved, providing a streamlined process for both online training and interactive workshops. Separate focussed day sessions with key personnel have also taken place throughout the year, promoting the strengthening of best practices.
Early in the year, the leadership team expanded with the appointment of both a new Director of Operations and Non-Executive Chairman. These new appointees bring a wealth of insight and experience within the care sector and are a valuable resource, supporting the continued investment and growth plans of the Company.
Investment
The Company continues to invest substantially in ongoing maintenance and environmental improvements to all the homes. Continual upgrading of the settings provides sustained environments rich for daily living and prioritising ever-changing needs of the residents.
At the end of the financial year the Company retains 1 home rated ‘Outstanding’ and 4 homes rated as ‘Good’ overall by regulator CQC.
Significant investment was made during the year in launching the Radar Healthcare compliance system across all homes. This innovative software increases focus on delivering exceptional care, enhanced efficiency, accountability and transparency. Key benefits include real-time monitoring and pro-active risk management, supporting the Company’s strategic objective in optimising operational efficiency.
During the last 4 months of the financial year safeguarding concerns were identified in one of the homes. Whilst the Company retained existing residents in the home, it took the decision to temporarily close this home to new admissions whilst the concerns were effectively addressed, in partnership with the CQC.
Feedback from residents and families is an important KPI and this information is used to support the Company’s continuous improvement practices. The Company is pleased to report the current average group score on carehome.co.uk is 9.8/10 from verified reviews.
Staffing
Recruitment and retention of Health and Social Care staff remains a challenge at both a local and national level. The Company continues to monitor the market to ensure the pay and benefits package is competitive for attracting and retaining staff.
To support improved retention and staff development, the Company undertook a comprehensive review of training requirements to clearly define mandatory requirements and opportunities for personal development. In conjunction with this, the booking system was improved, providing a streamlined process for both online training and interactive workshops. Separate focussed day sessions with key personnel have also taken place throughout the year, promoting the strengthening of best practices.
Early in the year, the leadership team expanded with the appointment of both a new Director of Operations and Non-Executive Chairman. These new appointees bring a wealth of insight and experience within the care sector and are a valuable resource, supporting the continued investment and growth plans of the Company.
Investment
The Company continues to invest substantially in ongoing maintenance and environmental improvements to all the homes. Continual upgrading of the settings provides sustained environments rich for daily living and prioritising ever-changing needs of the residents.
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PENINSULA CARE HOMES LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The Company monitors KPI’s on a weekly and monthly basis. The Directors consider the key performance indicators are occupancy levels, fee rates, EBITDA and direct wage costs as a percentage of turnover.
FY 2024/25 FY 2023/24
EBITDA £309,228 £955,850
Direct wages as a % of turnover 62% 67%
Financial risk management
Credit risk is managed by closely controlling trading activity and regularly monitoring counterparty positions. The Directors do not see this as a significant risk.
The Company have loan facilities which accrue interest at 1.25%, 1.33% and 2.02% over the base rate, per annum. The Company has sufficient cash reserves and thus, the Directors do not see this as a significant risk.
To maintain liquidity, ensuring that sufficient funds are available for ongoing operations and future developments, the Company mitigates risk through managing cash generation by its operations. At present, the Company has sufficient cash resources to ensure it can meet liabilities as they fall due for the foreseeable future.
FY 2024/25 FY 2023/24
EBITDA £309,228 £955,850
Direct wages as a % of turnover 62% 67%
Financial risk management
Credit risk is managed by closely controlling trading activity and regularly monitoring counterparty positions. The Directors do not see this as a significant risk.
The Company have loan facilities which accrue interest at 1.25%, 1.33% and 2.02% over the base rate, per annum. The Company has sufficient cash reserves and thus, the Directors do not see this as a significant risk.
To maintain liquidity, ensuring that sufficient funds are available for ongoing operations and future developments, the Company mitigates risk through managing cash generation by its operations. At present, the Company has sufficient cash resources to ensure it can meet liabilities as they fall due for the foreseeable future.
This report was approved by the board on 10 December 2025 and signed on its behalf.
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PENINSULA CARE HOMES LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The directors present their report and the financial statements for the year ended 31 March 2025.
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The loss for the year, after taxation, amounted to £216 (2024: profit 464,588).
Dividends of £65,000 have been paid during the year (2024: £149,700).
The directors who served during the year were:
The current market conditions are challenging but the homes will continue to invest in capital works where required and make changes to ensure the homes are as safe as possible. The company continues to be focused providing exceptional care for its residents and staff.
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PENINSULA CARE HOMES LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The directors continue to focus on investing in staff as we believe their training and development is fundamentally important in achieving our goals and will help with staff retention. Career development and training is an important factor to retaining key members of staff within the homes. Our training provision needs improvement and we have taken significant steps in the last 12 months to address this. One example of this being the establishment of our Reset Programme post pandemic.
Disabled employees
The Company gives full consideration to applicants for employment from disabled person where the requirements of the job can be adequately fulfilled by a disabled person. Where existing employees become disabled, it is the Company's policy, wherever practical to provide continuing employment under normal terms and conditions and to provide training and career development and promotion to disabled employees, wherever appropriate.
Disabled employees
The Company gives full consideration to applicants for employment from disabled person where the requirements of the job can be adequately fulfilled by a disabled person. Where existing employees become disabled, it is the Company's policy, wherever practical to provide continuing employment under normal terms and conditions and to provide training and career development and promotion to disabled employees, wherever appropriate.
There have been no significant events affecting the Company since the year end.
The auditors, Bishop Fleming Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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PENINSULA CARE HOMES LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PENINSULA CARE HOMES LIMITED
We have audited the financial statements of Peninsula Care Homes Limited (the 'Company') for the year ended 31 March 2025, which comprise the Statement of income and retained earnings, the Statement of financial position, the Statement of cash flows, and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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PENINSULA CARE HOMES LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PENINSULA CARE HOMES LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.
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PENINSULA CARE HOMES LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PENINSULA CARE HOMES LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:
∙the nature of the industry and sector, control environment and business performance;
∙results of our enquiries of the directors about their own identification and assessment of the risks of irregularities
We have obtained and reviewed the Company’s documentation of their policies and procedures relating to:
∙identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance;
∙detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud;
∙the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations
We have considered the matters discussed among the audit engagement team regarding now and where fraud might occur in the financial statements and any potential indicators of fraud.
As a result of these procedures, we have considered the opportunities and incentives that may exist within the organisation for fraud and identified the highest area of risk to be in relation to revenue recognition, with a particular risk in relation to year-end cut-off. In common with all audits under ISAs (UK) we are also required to perform specific procedures to respond to the risk of management override.
We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, Financial Reporting Standard 102 and UK tax legislation.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Company’s ability to operate or avoid a material penalty. These included Care Quality Commission regulations, data protection legislation, health and safety regulations, food hygiene regulations, and employment legislation.
Our procedures to respond to risks identified included the following:
As a result of these procedures, we have considered the opportunities and incentives that may exist within the organisation for fraud and identified the highest area of risk to be in relation to revenue recognition, with a particular risk in relation to year-end cut-off. In common with all audits under ISAs (UK) we are also required to perform specific procedures to respond to the risk of management override.
We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, Financial Reporting Standard 102 and UK tax legislation.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Company’s ability to operate or avoid a material penalty. These included Care Quality Commission regulations, data protection legislation, health and safety regulations, food hygiene regulations, and employment legislation.
Our procedures to respond to risks identified included the following:
∙reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
∙enquiring of management concerning actual and potential litigation claims;
performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement or fraud;
performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement or fraud;
∙in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting
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PENINSULA CARE HOMES LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PENINSULA CARE HOMES LIMITED (CONTINUED)
estimates are indicative of a potential bias and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from an error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions
reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves
intentional concealment, forgery, collusion, omission or misrepresentation.
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from an error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions
reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves
intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditors
Brook House
Winslade Park
Manor Drive
Exeter
EX5 1GD
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PENINSULA CARE HOMES LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 MARCH 2025
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PENINSULA CARE HOMES LIMITED
REGISTERED NUMBER:04613800
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 13 to 25 form part of these financial statements.
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PENINSULA CARE HOMES LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
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PENINSULA CARE HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Peninsula Care Homes Limited is a limited liability company incorporated in the United Kingdom. The registered office is: Parkland House Residential Home, Barley Lane, Exeter, Devon, EX4 1TA. The principal activity of the company is that of the running of residential and nursing care homes.
2.ACCOUNTING POLICIES
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The business environment within which we operate in England continues to be challenging for us and many other businesses. The challenges are high levels of inflation, a continued staffing crisis worsened by Brexit, high interest rates and a longer delay between filling bed vacancies. Our financial position is sound and our budget is to continue this level of financial performance.
The Directors are continuing to monitor developments in a rapidly changing business environment and will endeavour to take such steps as are required to ensure that the company is able to continue to function for the foreseeable future. At present the company has sufficient cash resources to ensure it can meet liabilities as they fall due for the foreseeable future and results for the first quarter of the year have been satisfactory. Accordingly, the directors consider it appropriate for the financial statements to be prepared on the going concern basis.
The Directors are continuing to monitor developments in a rapidly changing business environment and will endeavour to take such steps as are required to ensure that the company is able to continue to function for the foreseeable future. At present the company has sufficient cash resources to ensure it can meet liabilities as they fall due for the foreseeable future and results for the first quarter of the year have been satisfactory. Accordingly, the directors consider it appropriate for the financial statements to be prepared on the going concern basis.
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PENINSULA CARE HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.ACCOUNTING POLICIES (CONTINUED)
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PENINSULA CARE HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.ACCOUNTING POLICIES (CONTINUED)
The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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PENINSULA CARE HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.ACCOUNTING POLICIES (CONTINUED)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
factors, including expectations of future events that are believed to be reasonable under the
circumstances.
KEY ACCOUNTING ESTIMATES AND ASSUMPTIONS
The preparation of the financial statements requires management to make judgements, estimates and
assumptions that affect the amounts reported for balance sheet date and the amounts reported for
revenues and expenses during the year. However, the nature of estimation means that actual outcomes
could differ from those estimates. Management do not consider there to be estimates or assumptions that
pose a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities
within the next financial year.
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PENINSULA CARE HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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PENINSULA CARE HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 18
PENINSULA CARE HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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PENINSULA CARE HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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